Features in the battle for eyeballs and online gamers. First though, to our lead. Ibms thirdquarter results, the company saying it turned a 3 billion profit, but revenue was down 14 . This is the 14th straight quarter of yearly decline. Big blue missing wall street estimates on the sales side as it struggles to turn the business around. To refocus on cloud, security, analytics. Ibm reduced its fullyear earnings per share guidance. Joining me now here in the studio is tom giles. It does not look good. Do you see something i dont . Tom there are signs of hope, evidence the transformation is happening. It is just not happening quickly enough. Emily she wants to focus on cloud, analytics, and security. But revenue in those areas is up, but it is not growing as quickly as it did in the last quarter. Tom when you are the management of ibm, you have to look for the Silver Lining somewhere. The doubledigit growth is a positive sign. The problem the conversion is not happening quickly now. When
Early december. Peace at last. Microsoft and google put an end to all litigation between the two companies settling no less than 18 cases. Right. Thanks for joining us. Lets get straight to the Market Action and as you can see another very positive day for european equities. We started the month today in positive fashion as we ended the final day of last month but of course last month and last quarter as a whole very much negative. The dax was off about 6 for the month. And off nearly 12 for the quarter as a whole. So weve got to put that in perspective with the rally we saw yesterday and today as well. 1. 5 for the ftse 100. Germany up about. 5 . Right. Lets also have a look at asian markets as well. Sri is going to come in and give us an update on what were looking at in asia. Big day of data as well. Absolutely. Yes. China and japan. Lets take a look at some of these markets and how they reacted. We pretty much wrapped up the session over here in asia. Over there in asia. I am on as
A year earlier. Chinas Producer Price index dropped more than 6 . 43rd straight month of declines. Delaying its plan amid market volatility and four of the five companies that have gone public priced offerings below their expected range. Two ipos to watch today. First data and super market chain are both scheduled to price this afternoon but of course already starting to see cracks in the ipo market. Well see where those two go. Shares of sandisk jumping this morning. The flash Memory Company hired a bank to explore a sale of Micron Technology and Western Digital said to be in talks with sandisk. Merger is going through. Well talk about that. But is it the end or the beginning . Were getting closer to the end. But its frothey. These are 60 and 100 million deals too, right . I would argue all being done by companies that have weak fundamentals and thats the scary part. The question though, theyre slightly more rational than the deals at the real end of the bubble which is to say the pie
This is switzerlands number one insurer. Interim ceo guy he has been struggling to turn this around. The reality maybe coming home to roost. Anna they have been trying to equity, and other targets which were apparently thwarted. Guy lets get you the bloomberg first word. Manufacturing pmi has dropped to the lowest level in three years. In atficial reading came 49. 6 in november. Six Central Bank Interest rate cuts in your have not been enough to slow refectory manufacturing. In a historic move, the imf will to its list of reserve currencies. The euro lost the most with the changes. They Australian Dollar held a second day of gains after the reserve bank kept rates unchanged at a record low 2 . Ill ise seventh month makers have left the rates untouched. Morgan stanley is planning to month policyh makers have left the rates untouched. Morgan stanley is playing to cut fixed income jobs. Shares rose on the news. David cameron calling for a vote tomorrow on extending airstrikes into syria.
Territory this morning. U. K. And ireland coming back to open for trading after boxing day holiday and you can see what thats doing for the markets here. We are up about 9 points in the futures market for the s p. 83 for the dow and 74 for the nasdaq. Europe which i just mentioned, u. K. And ireland back online today. We are seeing the biggest gains though out of germany which is up 1. 5 . France is up 1. 3 . Italy is also up 1. 3 and the ftse in the u. K. Is up fractionally. Asia which had been down sharply in its monday trade rebounded for its tuesday trade. Hong kong is up. 3 and shanghai weaker over the weekend. That market is up close to 1 . There is some potential talk in the market about whether the pboc could find new ways to add stimulus to the market but of course anything at this point is unfounded but that is helping put a bit under the stock this morning, joe. And we didnt close anywhere near the lows yesterday and now with europe up maybe well have a good session here but